Stocks: The Start of Something Big?
The 3.46% drop in the S&P 500 on Feb. 27 was eye-catching, but it certainly was not record-setting. In fact, it was only No. 31 on the one-day "hit" parade since 1950. The first trading day's decline after September 11 was bigger, as was the fallout from Long-Term Capital Management's implosion in 1998. Of course, the mother of all single-session slumps occurred on Black Monday, Oct. 19, 1987.
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